by The global nanobodies market is estimated to be valued at US$ 368.6 Million In 2023 and is expected to exhibit a CAGR of 24.1% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Nanobodies are single domain antibodies derived from camelid heavy-chain antibodies that are typically one-tenth the size of conventional antibodies but retain the ability to recognize and bind to specific antigens or epitopes. Nanobodies have several advantages compared to conventional antibodies such as high stability, solubility, and specificity. They can penetrate tissues more effectively and recognize cryptic epitopes. The growing applications of nanobodies in cancer treatment, bioimaging, and other research areas have created high demand for these molecules.
Market key trends:
One of the key trends in the nanobodies market is its increasing use in development of targeted cancer therapies. Nanobodies exhibit high affinity and specificity for tumor antigens. They can be designed to recognize unique tumor markers and deliver anti-cancer payloads directly to tumor cells. This enhances efficacy and reduces adverse effects associated with conventional chemotherapy. Companies are exploring ways to engineer nanobodies for selective delivery of cytotoxic drugs, toxins, radionuclides and other anti-cancer agents to tumor tissues while sparing normal cells. Advances in nanobody-drug conjugates and radioimmunotherapy are thus expected to drive significant growth in the market during the forecast period.
Porter’s Analysis
Threat of new entrants: The Nanobodies Market requires considerable R&D investments and adherence to strict regulations, lowering the threat of new entrants.
Bargaining power of buyers: Individual buyers have low bargaining power in the global nanobodies market as it is a highly specialized and concentrated market.
Bargaining power of suppliers: Key raw material suppliers hold significant influence over pricing due to patented proprietary technologies and specialized expertise required.
Threat of new substitutes: Existing antibody therapeutics limit the threat of substitution. However, new technologies in molecular & cellular biology could offer novel substitutes.
Competitive rivalry: The market is moderately competitive due to presence of large multinational players focusing on new product developments.
Key Takeaways
The global nanobodies market is expected to witness high growth, exhibiting a CAGR of 24.1% over the forecast period, due to increasing R&D investments in nanomedicine and biopharmaceutical applications.
North America region is estimated to dominate the nanobodies market in 2023 owing to high healthcare expenditure and strong presence of key market players in the US. However, Asia Pacific region is expected to exhibit the fastest growth over the forecast period due to rising pharmaceutical industry in India and China.
Key players operating in the nanobodies market are Merck KGaA, Sanofi, AlpalifeB Inc, GenScript, Novartis International AG, Taisho Pharmaceutical Holdings Co., Ltd., Sino Biological, Inc., GeneMedi, Biocytogen, Abnova Corporation, NanoTag Biotechnologies, Avillion LLP, Capra Science, Numab Therapeutics, CUSABIO TECHNOLOGY LLC, Proteintech Group, Inc., GT Biopharma, Inc., Confo Therapeutics, R&D Systems, Inc., and Abcepta Biotech Ltd. Co.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
